NIKE (NYSE:NKE) Given New $110.00 Price Target at Guggenheim

NIKE (NYSE:NKE) had its target price cut by Guggenheim from $115.00 to $110.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the footwear maker’s stock.

NKE has been the subject of a number of other reports. Wells Fargo & Company raised their target price on shares of NIKE from $86.00 to $95.00 and gave the company an overweight rating in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft restated a buy rating and issued a $92.00 target price on shares of NIKE in a report on Friday, September 20th. StockNews.com downgraded shares of NIKE from a buy rating to a hold rating in a report on Friday, June 21st. Piper Sandler reissued a neutral rating and set a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Finally, The Goldman Sachs Group lowered their price objective on NIKE from $118.00 to $105.00 and set a buy rating for the company in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $96.04.

NIKE Stock Performance

Shares of NYSE NKE opened at $83.10 on Wednesday. The company has a market cap of $125.43 billion, a P/E ratio of 22.28, a P/E/G ratio of 2.30 and a beta of 1.02. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The firm’s fifty day moving average is $80.50 and its two-hundred day moving average is $86.39.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year. As a group, analysts anticipate that NIKE will post 3.04 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NKE. Kampmann Melissa S. boosted its stake in NIKE by 0.8% in the fourth quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock valued at $1,634,000 after acquiring an additional 115 shares in the last quarter. Ascent Wealth Partners LLC grew its stake in NIKE by 0.4% during the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after buying an additional 115 shares during the last quarter. Condor Capital Management increased its position in NIKE by 0.4% during the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after buying an additional 116 shares in the last quarter. Bell Investment Advisors Inc increased its position in NIKE by 4.7% during the 4th quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after buying an additional 118 shares in the last quarter. Finally, Lodestone Wealth Management LLC raised its stake in NIKE by 5.5% in the first quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after buying an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.